Middle East IT Market Analysis and Forecast, 2019-2028

The Middle East IT market is expected to grow at a CAGR of 6.5% during the forecast period of 2022-2028. The IT market in the Middle East region includes hardware, software, and IT services. The growth of the Middle East IT market is driven by several factors, including government initiatives to promote digital transformation, the increasing adoption of cloud computing and mobility solutions, and the growth of the e-commerce sector. In addition, the region’s young and tech-savvy population and the increasing use of smart devices are also contributing to the growth of the market.

The report highlights some challenges facing the Middle East IT market, including the impact of the COVID-19 pandemic on the industry and supply chain disruptions, as well as the need for regulatory frameworks and cybersecurity measures. In addition, the market may face competition from low-cost IT service providers in other regions.

Key Segmental and Regional Analysis

Based on the components, the RationalStat report identifies software as the largest segment of the Middle East IT market, accounting for the majority of the market share. This is due to the increasing demand for business intelligence and analytics software, as well as the growing adoption of cloud computing solutions. Regionally, the report identifies the United Arab Emirates (UAE) as the significant revenue generator region for IT services in the Middle East, driven by government initiatives to promote digital transformation and the growth of the e-commerce sector. Other countries, such as Saudi Arabia and Qatar, are also expected to contribute significantly to the growth of the market.

Market Structure and Competitive Landscape

Some of the prominent players that contribute significantly to the Middle East IT market growth include Microsoft Corporation, Oracle Corporation, IBM Corporation, SAP SE, Hewlett Packard Enterprise Development LP, Dell Technologies Inc., Cisco Systems, Inc., Intel Corporation, Accenture PLC, Capgemini SE, Infosys Limited, Wipro Limited, TATA Consultancy Services Limited, Fujitsu Limited, Hitachi, Ltd., etc. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Partnerships and collaborations, and product launches are some of the strategies followed by industry players.

Key Market Segmentation

RationalStat has segmented the Middle East IT Market on the basis of component, organization size, end user, and region.

• By Component
  • Hardware
  • Software
  • Services
• By Organization Size
  • Large Organization
  • SMEs
• By End User
  • BFSI
  • IT & Telecom
  • Automotive
  • Oil & Gas
  • Energy and Utility
  • Healthcare
  • Retail
  • Aviation
  • Others (Consumer Electronics, etc.)
• By Region
  • GCC
  • Iran
  • Iraq
  • Turkey
  • Rest of the Middle East

Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecast, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

Secondary Sources

• Annual reports, company filings, investor presentations, product catalogs, and company documents
• Industry and market-related documents available in the public domain
• Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
• Whitepapers, research papers, and industry blogs.

Why Buy this Report?

The report is intended for IT Companies, government organizations, Investors, the healthcare industry, educational organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.